šŸ‡®šŸ‡³ *India Daybook*
šŸ”¹ *Stocks in News*
Nestle MD: Positive about growth; despite the slowdown. Company launched cocoa-malt beverage - MILO in India (Positive)
LT Foods: With an intent to consolidate its international business, company has approved transfer of investments in LT Foods International (Positive)
INEOS Styrolution India: Company appointed merchant banker to undertake due diligence, pursuant to the receipt of the proposal for voluntary delisting (Positive)
Government removes Debenture Redemption Reserve requirement for Listed Companies, NBFCs and HFCs (Positive)
Opto Circuits Q1: Consolidated profit falls to Rs 10.8 crore versus Rs 12.95 crore, revenue dips to Rs 50.28 crore versus Rs 71.31 crore YoY. (Neutral)
MRPL Says refinery affected by minor landslide due to intensified monsoon in Dakshina Kannada District. (Negative)
Vodafone Idea: CEO Balesh Sharma resigns with immediate effect (Negative)
Tata Motors: CARE cuts long-term rating to AA- from AA, outlook negative (Negative)
IL&FS: Interest due & payable on August 19 on certain NCD not paid due to insufficient funds. (Negative)
DHFL said it has defaulted on financial repayment obligations worth Rs 1,571 crore with regard to issuance of bonds and commercial papers (Negative)
National Fertilizers: ICRA reaffirmed its long term credit rating and term loans rating at AA but revised outlook to negative from stable. (Negative)
BritishGas to exit Mahanagargas, to sell residual 10% stake in co. (Negative)
Credit Suisse upgrades Reliance Ind to neutral rating, raises the target price to Rs 1,210/Sh (Positive)
In the NBFC space, Citi prefers HDFC, followed by Shriram Transport (Positive)
CLSA maintains buy call on NTPC, says stock can outperform as it has robust RE growth, cut target Rs 165/Sh (Neutral)
Jefferies maintains buy call on MGL, sets target price at Rs 1,030/Sh (Neutral)
Nomura maintains buy rating on VA Tech, says resumption in Namami Gange ordering post elections is a positive with target cutting to Rs 445/Sh from Rs 520/sh (Neutral)